HD Hyundai Construction Equipment said on the 29th that it posted sales of 954.7 billion won and operating profit of 55.8 billion won in the third quarter this year. Compared with a year earlier, sales rose 16.9% and operating profit increased 29.8%. Net profit for the same period was 42.3 billion won, up 269% from a year earlier.
HD Hyundai Construction Equipment said sales and operating profit increased as emerging markets grew and results in advanced markets improved.
By region, sales in Europe and North America rose 32% and 8%, respectively, from a year earlier. Sales in Africa climbed 216% year over year, and orders also increased in Ethiopia and Sudan. Sales in the China market increased 4% from a year earlier, while equipment sales in the India market decreased somewhat after a rapid growth phase.
An HD Hyundai Construction Equipment official said, "The construction equipment market has shifted to a recovery following a rebound in results in the second quarter."